Constellation brands and e. & j. gallo agree to revise wine and spirits agreement in connection with federal trade commission review

Victor, n.y., dec. 12, 2019 (globe newswire) -- constellation brands, inc. (nyse: stz and stz.b), a leading beverage alcohol company, announced today that it and e. & j. gallo winery have agreed to revise their original transaction to divest a portion of constellation’s wine and spirits portfolio principally priced at $11 retail and below, including related facilities located in california, new york, and washington. the new agreement will supersede the original agreement announced in april 2019. the revisions to the transaction are to address competitive concerns raised by the ftc primarily related to the sparkling wine, brandy, dessert wine, and concentrate categories.
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